ISPFCU held its 2016 Annual Meeting
Friday, June 24, 2016 at the Troopers Lodge #41 in Springfield,
Illinois. Members in attendance were informed of the current
financial state of the institution by the officials and management
staff of the Credit Union.
Chairman Boyd Butler reported on the
tremendous volunteer base the Credit Union enjoys and the excellent
cooperation and communication between those volunteers and the
staff. Treasurer Richard Powell reported on the financial results
from 2015 and stressed that although it was a challenging year
ISPFCU remains financially strong and will remain that way into the
future. Chief Executive Officer Megan Becker gave detailed
information in regards to the challenges the organization faced as
well as an overview of key growth and statistical information from
2015. Member of the Election Committee Matt Wiseman presented the
2016 election results.
Preceding the conclusion of the Annual
Meeting officials and management staff held an open forum where they
addressed questions and comments from the members in attendance.
- Member asked the percentage of
Illinois State Police members versus non-ISP members who were
expelled during the Member Expulsion meeting. Staff reported
that 38% of the members expelled were ISP and ISP Family for 79%
of the total amount lost. Another 52% originated from other law
enforcement groups for 20% of the total amount lost. The
remaining 10% of the members expelled were from other non-law
enforcement groups for under 1% of the total amount lost.
- Member asked about the foreclosure
and collection processes. Staff reported that they vigorously
pursue full collection on all amounts owed to the Credit Union
unless a bankruptcy prohibits it.
- Member spoke about the great staff
assistance given on all matters.
- Discussion was had about the need
for additional volunteers to serve as Board and Supervisory